Change was necessary: Ashurst joins the war for talent with 9% NQ pay raise

Change was necessary: Ashurst joins the war for talent with 9% NQ pay raise

City stalwart Ashurst has followed suit with peers in the Square Mile to raise the salary for newly-qualified solicitors (NQs), upping the ante to £105,000 including bonuses.

The move will mean a 9% pay increase for NQs, who were previously in line for maximum remuneration of £96,600, effective from the 2020 financial year. Continue reading “Change was necessary: Ashurst joins the war for talent with 9% NQ pay raise”

CC follows Freshfields with £100k package for junior lawyers as pay war with US rivals intensifies

CC follows Freshfields with £100k package for junior lawyers as pay war with US rivals intensifies

Clifford Chance (CC) has become the second Magic Circle law firm to raise the starting pay for its associates to £100,000, a month after City rival Freshfields Bruckhaus Deringer announced a similar increase.

In a move signalling the widening impact of the pressure for talent from US firms on the City elite, CC has raised its compensation for newly qualified (NQ) solicitors from £91,000 including bonuses. Continue reading “CC follows Freshfields with £100k package for junior lawyers as pay war with US rivals intensifies”

NQ retention and pay: Good news for NRF and Bird & Bird but FFW puts 5 trainees on extended contract

NQ retention and pay: Good news for NRF and Bird & Bird but FFW puts 5 trainees on extended contract

If you see a rabble of trainees at the pub this lunchtime they may well be from Norton Rose Fulbright (NRF), which today (13 August) announced it has increased its newly-qualified (NQ) salary by £1,500 and offered in excess of 90% of its trainees a permanent position.

The newly merged, 3,800-lawyer firm has announced a trainee retention rate of 92% after offering 24 of its 26 trainees a NQ role, up from 89% in its last round in May. It has also increased its NQ salary from £61,500 to £63,000, effective 1 July (and backdated to 1 May this year). First and second year trainees will remain constant at £38,000 and £43,000 respectively. Continue reading “NQ retention and pay: Good news for NRF and Bird & Bird but FFW puts 5 trainees on extended contract”